Will my estate be subject to any taxes and if so what types of tax?
The current federal estate tax limit is 5.45 million dollars per individual. What that means is if you pass away with more than that, there are estate taxes. If you pass away with less than that, there will be no federal estate tax under current law. California does not have any state estate tax as of this time. There are other taxes that your children might be concerned about, such as property tax, proposition 13, or capital gains tax.